Futures bolstered by Amazon results ahead of jobs report By Reuters

(Reuters) – U.S. stock index futures rebounded on Friday as Amazon.com Inc (NASDAQ:)’s robust earnings for the holiday reason lifted the mood at the end of a week of volatile trading that saw mixed earnings from Big Tech firms.

The world’s largest retailer jumped 12.7% in premarket trading on plans to raise the price of its annual U.S. Prime subscriptions to offset higher costs.

The main U.S. stock indexes tumbled on Thursday after Facebook-owner Meta Platforms Inc’s shares plunged 26% following a dour outlook, thwarting the stock market’s attempt at a recovery on upbeat earnings from other megacap growth companies such as Google-parent Alphabet (NASDAQ:) Inc and Microsoft Corp (NASDAQ:).

Meta, Apple Inc (NASDAQ:), Netflix Inc (NASDAQ:) and Alphabet firmed between 0.4% and 1.8%.

At 5:09 a.m. ET, were up 36 points, or 0.1%, were up 24.75 points, or 0.55%, and were up 180 points, or 1.24%.

In focus will be the Labor Department’s monthly nonfarm payrolls numbers on Friday that are likely to show U.S. job growth slowed sharply in January as COVID-19 infections lashed the nation.

The data is due to be released at 8:30 a.m. ET (1330 GMT).

“Investors will likely look past what is sure to be a weak jobs report,” said Bryce Doty, portfolio manager at Sit Fixed Income Advisors.

“Slowing COVID-19 cases combined with a Fed unlikely to be deterred from its mission to raise rates should keep investors from dwelling too long on January’s economic data.”